Fiat Chrysler calls off merger with Renault

June 07, 2019
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News Desk

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Lifestyle

After a board meeting on Thursday, Fiat Chrysler Automobiles (FCA) withdrew its proposal to merge with Renault after the French government called for the postponement of the deal, reports said. French state, the biggest shareholder in Renault, reportedly hesitated to go ahead with the 50-50 merger deal because it lacked the support from Nissan Motor, another major shareholder on Renualt's board.